The debt payoff calculator. See your debt-free date.
Enter your balance, interest rate and monthly payment to see when you will be debt free, how much interest you will pay, and how much faster you could finish by paying a little more. No signup, and nothing leaves your device.
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Your debt
Tap an example to fill it in, then edit to match your debt.
Enter your balance, rate and monthly payment to see your debt-free date.
How the debt payoff math works
Every month, interest is charged on whatever you still owe, based on your APR. Your payment first covers that interest, and whatever is left chips away at the balance. Early on, a big share of each payment goes to interest. As the balance shrinks, more of every payment goes to the balance itself, which is why the last stretch goes faster than the first.
The fastest lever you control
You cannot always change your interest rate, but you can change your payment. Paying even a little more than the minimum sends that extra money straight at the balance, skipping interest entirely. That is why the extra payment box above can shave months, sometimes years, off the end. Try a number you could realistically manage and watch the date move.
Frequently asked questions
How is debt payoff calculated?
Each month, interest is added to your balance based on your APR, then your payment is subtracted. That repeats until the balance reaches zero. This tool runs the month by month math for you and counts the months.
How can I pay off debt faster?
Pay more than the minimum. Even a small extra amount each month cuts months off the end and saves interest, because more of your money goes to the balance and less to interest. Try the extra payment box above.
What is the avalanche versus snowball method?
Avalanche pays the highest interest debt first to save the most money. Snowball pays the smallest balance first for quick wins and motivation. This calculator handles one debt at a time, so use it on whichever debt you are focused on.
Why does my balance never go down?
If your monthly payment is smaller than the monthly interest, the balance grows instead of shrinking. You need to pay more than the interest each month to make progress. The calculator shows you the interest so you know the minimum to beat.
Is this calculator free?
Yes. It is completely free, runs entirely in your browser, and never asks for your email or a signup. Nothing you type leaves your device.
Should I save or pay off debt first?
High interest debt, like most credit cards, usually costs more than savings earns, so paying it down first tends to win. A small emergency buffer first is still wise. Pockita can help you see both at once.